Sales Surge In Mutual Funds

January 30, 1985

December sales of mutual funds, other than short-term funds, amounted to $4.1 billion, up from $3.2 billion in December, 1983, raising sales for the year to $45.9 billion, up 13.9 percent from the record $40.3 billion of 1983, the Investment Company Institute reported. Assets of these funds totaled $137.1 billion at year`s end, up from $113.6 billion in 1983. Redemptions of fund shares increased in December to $2.4 billion from $1.8 billion in November and $1.6 billion a year earlier. Net sales amounted to $1.7 billion in December, $2.3 billion in November and $1.6 billion in December, 1983.